Press Release: Sunway Property Announces RM2.8 Billion In Launches For 2021 (47% higher than 2020), Driven By International Launches
Sunway City Kuala Lumpur, March 4 ~ Master community developer, Sunway Property today announced that it will be launching RM 2.8 billion worth of properties in Malaysia, Singapore and China in anticipation of economic recovery as vaccines roll-out across the world in 2021.
Of the new launches, 40% or RM 1.1 billion worth of properties will be launched in Klang Valley where the economy is expected to rebound strongest in tandem with the vaccine roll-out. The remaining 60% of launches will be international projects comprising an Executive Condominium in Singapore, Parc Central Residences (GDV: RM910 million) and Phase 3 of Sunway Gardens Condominiums in Tianjin, China (GDV: RM780 mil).
In conjunction with the higher launches for 2021, the property developer is setting a sales target of RM1.6 billion for 2021, 23% higher than the achievement in 2020 of RM1.3 billion.
Besides new launches, the master community developer will also be looking to complete its portfolio of investment properties under construction in its various integrated townships. Currently, the Group’s pipeline of investment properties include Sunway Hotel Big Box, Johor (GDV: RM160 mil), Sunway Carnival Mall expansion, Penang (GDV: RM350 mil), Sunway International School (GDV: RM200 mil) and Sunway Medical Centre expansion (GDV: RM600 mil) in Sunway City Kuala Lumpur. In total, Sunway Property currently has more than RM11.0 billion of assets under its management as of 31 December 2020.
The continued development of new investment properties in its integrated townships are consistent with Sunway’s philosophy as a Master Community Developer and a co-investor with all its property buyers. Sunway has maintained ownership of up to 50% of the properties within its townships through its build-own-operate business model which has generated substantial value for the community.
As of 31 December 2020, Sunway Property has 3,324 acres of landbank with potential gross development value of RM51.3 billion and over a total development period of up to 15 years. The developer also has unbilled sales which stands at RM2.2 billion, providing clear earnings visibility for the immediate 2-3 years.
FOCUSING ON NEW NORM URBAN HOMES
Sunway Property Managing Director, Sarena Cheah said that the property developer is excited to launch RM1.1 billion worth of developments in 2021 in Malaysia, all of which are designed for new norm urban living, under its ‘Beauty of City Living’ campaign.
In Malaysia, the new launches comprise:
· Sunway Belfield in Kuala Lumpur (GDV: RM 320 million)
· D’Hill @ Sunway Damansara in Kota Damansara (GDV: RM 220 million)
· Sunway Artessa in Wangsa Maju (GDV: RM 300 million); and
· Jernih Residence in Kajang (GDV: RM 270 million).
Sarena said, “All of our launches this year will focus on the vibrancy of city living and focuses on connectivity, being located near transit stations; support chic and modern lifestyles, being close to amenities like cafes and retail; and promotes healthy and active lifestyle, being located near green lungs.”
“Over the period of the pandemic, I believe many people have experienced a reset of priorities. Many have developed greater appreciation of their families and their health and wellbeing. The strength of the location of all our new launches which are within matured neighbourhoods will reduce time spent by our residents on commuting for work, school or even grocery shopping and allow the time to be spent more meaningfully with the family or working out at our development’s various facilities.”
“Our products this year will also have new norms in mind like Work from Home. Generally, all projects will look at providing more living space, whether within the unit or in common areas, have better Internet connectivity and incorporate design which promotes better air ventilation. Certain projects will also include common areas which are furnished to be like co-working offices and have meeting rooms that can be booked for business meetings”, she said.
LINE UP OF LAUNCHES TO MEET EVERY NEED
The developer’s first launch for the year will be Sunway Belfield. The development is in central Kuala Lumpur and located a mere 400 meters away from the Maharajalela Monorail Station, close to the iconic Petaling Street where food, culture and architectural heritage are abundant. To top it all off, the residence is adjacent to the up and coming tallest building in Southeast Asia – Merdeka 118, where upon completion, will offer one million square feet of shopping and entertainment amenities for the residents to enjoy. To accommodate new norm lifestyles, the developer will be integrating a co-working space as a facility to accommodate those who are looking to work from home.
To meet the renewed interest in health and well-being, the developer will launch D’Hill @ Sunway Damansara for those who appreciate green living and fitness. Residents will be facing a green view of the 857-acre Kota Damansara Forest Reserve located just 100m away, complete with 14km of hiking trails.
For homebuyers who are looking for value, they can consider the freehold transit-oriented Jernih Residence in Kajang. With an average indicative price from RM300,000, most buyers will benefit from stamp duty exemptions granted by the government for the next 5 years. The development has a MRT station at its doorstep and integrates modern lifestyle facilities with a wide array of conveniences nearby in Kajang town including KPJ Kajang Specialist Hospital, Tesco Extra Kajang, Metro Point Kajang, Kajang Market and the New Era University College.
For eligible first-time homebuyers and young families, the developer will have a selection of units for D’Hill and Jernih Residence, priced from RM270,000.
For those who are looking for larger residential units especially in the new norm where many are seeking more space so that they can work from home more comfortably, the developer will launch Sunway Artessa in Wangsa Maju. Typical units have a size of more than 1,300 square feet. The development is connected by a covered walkway to Sri Rampai LRT station located just 500m away. In response to rising concerns about food scarcity and the movement towards a healthier plant-based diet, Sunway Artessa will have a community urban farm plot to provide residents with the opportunity to grow fresh vegetables besides having more than 20 other health and fitness facilities within the development.
TACKLING AFFORDABILITY WITH CO-LIVING AND RENT-TO-BUY
In addition to developing new norm homes, Sunway Property is also seeking to address an emerging trend with property buyers, affordability, with its latest initiative.
Last year, Sunway Property launched its first co-living development, Co-living @ Sunway House Waterfront Residence located in Sunway City Kuala Lumpur.
Specifically designed for the rental market, Co-living @ Sunway House Waterfront Residence provides co-living opportunities for young adults and working professionals by offering fully furnished units with access to amenities like swimming pool, gym and meeting lounges. Rents start from RM1,200 per month and are all inclusive including community events and utilities like WIFI and electricity.
“What truly differentiates our co-living scheme with others is Sunway Property’s Rent-To-Buy credits, which allows our co-living residents to convert 25% of their rental into down payment when they purchase any property of their choice that is developed by Sunway Property in the future. In a way, our tenants are saving towards their downpayment by staying with us,” Cheah commented on its latest innovative product.
Being within the Group’s iconic Sunway City Kuala Lumpur township, Sunway House Waterfront Residence strategic location offers access to an array of world-class conveniences and amenities including Malaysia’s first Elevated Electric Bus Rapid Transit (BRT), Sunway University, Monash University, Sunway Medical Centre, Sunway Pyramid Shopping Mall and Sunway Lagoon.
ACCELERATING INNOVATION FOR FUTURE-PROOF RESILIENT URBAN COMMUNITIES
In line with its Master Community Developer branding and enabled by its unique build-own-operate model, Sunway Property will continue to invest and innovate with a purpose to ensure growth and resilience for its communities.
Towards creating future-proof, resilient urban communities, Cheah said that the developer will accelerate innovation with the integration of 5G technology.
“We will be transforming Sunway City Kuala Lumpur into a living lab where we will bring together expertise in academia, government and corporations to develop new generation urban solutions leveraging on 5G technology.”
“With the development of smart townships and homes, we will be able to cut greenhouse gas emissions while delivering better lifestyles and a better future for everyone. We aim for all our developments to be green buildings with urban farms as a climate change adaptation and mitigation strategy.”
“We are also currently harnessing the power of big data to understand our customers better. By understanding their needs, we can create better products, design and services.”
“We have integrated the adoption of 3D cameras and virtual tour software that enables customers to view our products from the comfort of their homes. We will also be launching post-sales features on the Sunway Property app by the end of this month,” she added.
All of Sunway Group’s companies had recently committed to disclose climate risks and opportunities in alignment with the recommendations on the Taskforce for Climate-related Financial Disclosures to drive internal and external urgency on climate change, ensure better management of potentially material risks and facilitate more informed strategic planning.
As a living lab, Sunway City Kuala Lumpur will look to develop new solutions for resilient urban communities by focusing on the development of smart cities, digital health tech, edutech, agrifood tech, and e-commerce.
The developer’s latest office tower in Sunway Velocity TWO was recently awarded the GreenRE Platinum, the highest recognition under the GreenRE assessment system.
Sunway Property has also collaborated with Sunway iLabs to launch Malaysia’s first smart farm in Sunway City Kuala Lumpur, the Sunway FutureX Farm.
Sunway FutureX Farm is now 100% operational and uses a hydroponic system to grow up to 18 different types of vegetables, catering to the surrounding community and also F&B businesses around Sunway City Kuala Lumpur. The 50,000 square-feet innovation hub includes a research and development centre, training and collaborative spaces as well as a café.
With its pilot urban farming project launched in Sunway City Kuala Lumpur, the developer is also planning to implement the same this year in its other regions such as Sunway Penang and Sunway City Iskandar Puteri in Johor.
— End of Press Release —
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